Welcome to the first edition of Metric Geo’s Building the Future newsletter.
On the first Friday of each month, this newsletter will publish a recap of industry news, announcements, and insights from the previous month.
Building the Future focuses on Mission Critical and Advanced Technology facilities in the U.S., and we are excited to build a community that is passionate about exchanging ideas and expanding the industry.
Here’s a recap of key announcements for October.
Mission Critical
The U.S. Data Center market is continuing its momentum with high-profile project announcements.
Nadeem Meghji, Global Co-Head of Real Estate at Blackstone, stated, “When we look at our global business today, not just within real estate, but across the entire firm, we see data centers as the most exciting asset class…”
Blackstone is the world’s largest asset manager, with a Data Center pipeline of $70 Billion and current assets worth $55 Billion after acquiring QTS Data Centers in 2021.
Microsoft, BlackRock, Global Infrastructure Partners (GIP), and MGX established a partnership seeking to unlock $30 Billion of private equity capital to drive data center expansion in the US.
DataBank secures $2 Billion investment to build data centers in Dallas, Atlanta and Virginia! The Dallas project will be a 480MW facility with Rogers-O’Brien Construction as the general contractor across both phases.
In Atlanta, Brasfield & Gorrie, LLC are the general contractor managing construction of the 95-acres campus. AECOM Tishman will be overseeing the Virginia campus which will total 1.4 Million SQ FT across 85 acres.
DC BLOX breaks ground on their 216MW Atlanta East Hyperscale Data Center Campus! The campus will be in Conyers, Georgia, about 24 miles east of downtown Atlanta.
At final build-out, the facility will cover 68 acres of land and include more than 1 Million square feet of data center space, with a critical load of 144MW.
T5 Data Centers have officially broken ground on their new Northlake, Chicago site. Due to go live in 2027, the site will have a project cost of around $500 Million with 36MW capacity and is already pre-leased.
Advanced Manufacturing
Similarly, Advanced Manufacturing has thrived in the U.S. since the introduction of the CHIPS and Science Act in August 2022.
The $52 Billion in federal tax incentive has led to further $988 Billion in private company investment.
Since August, U.S. manufacturing construction spending has increased 18.3% in 12 months – here’s some of the key project announcements in the past four weeks.
Gray Construction and Yakult celebrate ground-breaking on their $305 Million Manufacturing Facility in Bartow Country, Georgia. Their new 250K SQ FT facility will be Yakult’s second manufacturing facility in the U.S. following their first being built in California in 2014.
Lyten set to build $1 Billion Lithium-Sulfur Battery Factory in Nevada. The battery manufacturer received a $4 Million grant in January from the DOR to accelerate EV battery production to meet demand.
Johnson & Johnson to invest $2 Billion in new Advanced Technology Facility in North Carolina with construction anticipation to begin in the first half of 2025. The facility will be a state-of-the-art biologics manufacturing in Wilson, NC, and is expected to create 420 jobs when fully operational.
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